Nexa Resources (NYSE:NEXA) Given New $15.00 Price Target at Scotiabank

Nexa Resources (NYSE:NEXA) had its price target lifted by Scotiabank from $14.50 to $15.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 17.28% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Nexa Resources from an “underweight” rating to an “equal weight” rating in a research report on Thursday, April 9th. Citigroup upped their target price on Nexa Resources from $12.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexa Resources in a research note on Wednesday, April 22nd. Zacks Research raised Nexa Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Nexa Resources from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Nexa Resources has a consensus rating of “Hold” and a consensus price target of $11.55.

Nexa Resources Stock Performance

Nexa Resources stock traded down $0.42 during mid-day trading on Tuesday, hitting $12.79. 139,090 shares of the company’s stock traded hands, compared to its average volume of 1,003,333. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $14.05 and a two-hundred day simple moving average of $12.35. Nexa Resources has a fifty-two week low of $4.61 and a fifty-two week high of $16.89. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 0.30 and a beta of 0.94.

Nexa Resources (NYSE:NEXA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $888.32 million for the quarter, compared to the consensus estimate of $885.90 million. Nexa Resources had a net margin of 6.44% and a return on equity of 16.32%. On average, research analysts expect that Nexa Resources will post 2.81 EPS for the current fiscal year.

Institutional Trading of Nexa Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sagil Capital LLP acquired a new stake in shares of Nexa Resources during the 4th quarter worth approximately $11,651,000. Pictet Asset Management Holding SA acquired a new position in Nexa Resources during the first quarter valued at approximately $7,572,000. Susquehanna International Group LLP bought a new stake in Nexa Resources during the third quarter worth $134,000. Susquehanna Portfolio Strategies LLC bought a new stake in Nexa Resources during the fourth quarter worth $88,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nexa Resources in the 4th quarter valued at $83,000.

Nexa Resources Company Profile

Nexa Resources SA is a Brazil-based metals and mining company with a primary focus on zinc and copper. Listed on the New York Stock Exchange under the ticker NEXA, the firm develops, extracts and processes mineral resources for industrial applications worldwide. Headquartered in São Paulo, Brazil, Nexa is a leading participant in Latin America’s mining sector with a diversified portfolio of upstream and downstream operations.

The company’s operations span multiple mining and smelting complexes in Brazil’s Minas Gerais and Mato Grosso regions, as well as in Peru’s coastal and Andean zones.